Alex buys a top of the line computer. He did not realize that the computer would lose value so fast. If his computer cost $1800.
00 and it depreciates at a rate of 45% each year, in how many years will it be worth less than 1/3 of what he paid for it?
1 answer:
This can be solve by using the formula
D = P( 1 – i)^n
Where d is the depreciation value after n years
P is the initial value
i is the depreciation rate
n is the years
D = 1/3 ( 1800)
D = 600
So
600 = 1800 ( 1- 0.45)^n
Solve for n
<span>N = 1.83 years</span>
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